Robert E Stroud
00:40 – Drive Business value and Business success
01:17 – Technology is at the centre of everything we do
02:05 – COBIT 5 helps organisations drive Business value
COBIT 5 Executive Summary
Dr. Derek J. Oliver (co-chair COBIT 5 Task Force at ISACA)
Summary powered by Brightalk
COBIT 5 provides a comprehensive framework that assists enterprises to achieve their goals and deliver value through effective governance and management of enterprise IT.
The new processes definitions of COBIT 5 are based on the principles in ISO 38500 and the ISO 15504 Process Capability Assessment Model.
Rob England states that COBIT 5 is muddying governance and management.
I recommend that you read the responses made by Peter Hill to this blog post
Far from muddying the water the COBIT 5 framework makes a clear distinction between governance and management. COBIT 5 is based on five high level principles and Principle 5 is about the separation of Governance from Management.
Governance ensures that enterprise objectives are achieved by evaluating stakeholder needs, conditions and options; setting direction through prioritisation and decision making; and monitoring performance, compliance and progress against agreed direction and objectives [EDM]
Management plans, builds, runs and monitors activities in alignment with the direction set by the governance body to achieve the enterprise objectives [PBRM]
Overview of COBIT 5 Public Exposure Commentary
The COBIT 5 Development Team has digested all of the feedback from the public exposure and has been working diligently to incorporate the significant observations.
The completion of the Framework and Process Reference Guide are on schedule and both will be published in March or April 2012, along with COBIT 5:
The Implementation Guide, which is intended to assist stakeholders in implementing COBIT 5 for governance and management of enterprise information and technology assets.
The COBIT 5 Implementation Guide is being finalised for release in March.
There are seven phases in the implementation lifecycle which describe how to establish an approach to deliver a sustainable set of governance and management processes for the enterprise.
Phase 1 starts with recognising and agreeing to the need for an implementation or improvement initiative
Phase 2 is focused on defining the scope of the implementation or improvement initiative using COBIT’s mapping of enterprise goals to IT‐related goals to the associated IT processes.
During phase 3, an improvement target is set, followed by a more detailed analysis leveraging COBIT’s guidance to identify gaps and potential solutions.
Phase 4 plans practical solutions by defining projects supported by justifiable business cases.
The proposed solutions are implemented into day‐to‐day practices in phase 5.
Phase 6 focuses on the sustainable operation of the new or improved enablers and the monitoring of the achievement of expected benefits.
During phase 7, the overall success of the initiative is reviewed.
A practical COBIT 5 and IT governance seminar is scheduled for London (23rd Feb) this seminar provide delegates with an understanding of COBIT 5, how to implement IT governance and management processes, measure capability and manage performance.
In my experience the implementation of a governance framework enables strategic decision making and ensures IS investments are optimized, aligned with business strategy, and deliver required value within acceptable risk boundaries.
The governance framework sets out the hierarchy of forums that should be in place to allow IS leadership to monitor, measure and drive IS alignment to business priorities.
Decision making in the governance hierarchy takes place at the right level – i.e. empower people
The new COBIT 5 governance processes [Evaluate, Direct, Monitor] provide guidance on how to define and deliver Business value for identified stakeholders.
The role of IT is to serve the Business and the guidance provided in COBIT5 will help internal / external Service Providers take an Outside In approach.
This can be achieved by aligning Governance objectives and mapping Enterprise related goals with IT related goals.